Point72 Asset Management L.P. Sells 248,583 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Point72 Asset Management L.P. decreased its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 64.1% during the third quarter, HoldingsChannel reports. The firm owned 139,281 shares of the company’s stock after selling 248,583 shares during the quarter. Point72 Asset Management L.P.’s holdings in Payoneer Global were worth $1,049,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Payoneer Global by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after acquiring an additional 2,552 shares in the last quarter. Quarry LP bought a new stake in shares of Payoneer Global during the second quarter valued at approximately $29,000. GAMMA Investing LLC grew its stake in Payoneer Global by 438.5% in the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after purchasing an additional 4,736 shares during the period. FSC Wealth Advisors LLC bought a new position in Payoneer Global in the third quarter worth $68,000. Finally, Sage Rhino Capital LLC purchased a new position in Payoneer Global during the second quarter valued at $56,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Insider Buying and Selling

In related news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at $1,829,904. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,562,402 shares of company stock worth $78,043,152. 5.57% of the stock is owned by insiders.

Payoneer Global Trading Up 0.1 %

Shares of PAYO opened at $10.13 on Wednesday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 28.94 and a beta of 0.90. The business’s fifty day simple moving average is $9.45 and its two-hundred day simple moving average is $7.40. Payoneer Global Inc. has a 12 month low of $4.22 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. Payoneer Global’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. As a group, research analysts forecast that Payoneer Global Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Benchmark upped their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Northland Securities upped their price target on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods cut Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price objective for the company. in a research note on Monday. Finally, Needham & Company LLC increased their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Payoneer Global has an average rating of “Buy” and an average price target of $11.36.

Payoneer Global Company Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.